A close below the 50sma is likely. Fibonacci retracement levels are lining up perfectly with the simple moving averages; creating confluence strength. 100sma is lining up with the 38.2% level. 200sma is lining up with the 50% level; which also coincides with pre-covid levels.
Looking for a pullback to retest the respectable ascending trendline in confluence to the 0.618 fib retracement and previous area of support within the hourly structure.
Looking for a pullback to retest the broken descending TL in confluence to the 0.618 fib retracement and previous area of support. SMA50 is also supporting the momentum shift pretty nicely and I'll be targeting the 1.09600 resistance area for TP!
-Ascending TL breakout, retest expected -0.5 fib retracement -Previous support now acting as resistance -MA50 momentum shift
Cable lately broke a pretty significant trendline and weekly support. I am looking for price to come to my liquidity are and pickup some orders before we could see a trend continuation. Targeting next weekly key level to be met at 1.28135. Always remember: Trade with the trend and higher Timeframes #tradesafe #theforexdaddy
-Respectable descending TL, looking for a retest -0.618 fib retracement -Previous area of S&R -MA50 momentum shift
Looking to open longs on a pullback to retest the ascending TL in confluence to the 0.618 fib retracement & previous broken resistance which is now acting as support. SMA50 is also supporting the bullish trend nicely after the huge momentum shift early in the month. I’ll be targeting 1.79000 resistance zone assuming we see a rejection from my outlined confirmations.
Looking for a pullback to retest the recently broken ascending TL in confluence to the 0.5 fib retracement and previous area of S&R
price is respecting our trendline, we could see price create a new low into our extension region -hedging a smaller sized trade with the community on this risk/reward is great!
US Markets are closed for Labor Day Holiday so there is not much happening today. Looking at Silver, we can see a Consolidation taking place after the big fall in metals last week. Sellers are in control today. The Confluence of Resistance around the 27.00 area was able to stop price from going up at the beginning of the London Session today. Weak Resistance at...
Potential long opportunity on broken descending TL retest in confluence to our 0.5 fib retracement and previous level of resistance which is now acting as support. MA50 is also supporting the momentum shift pretty well so I’m hoping for a rejection near that area of confluence
GBPCHF H4 - Looking to retest that S/R zone and trendline support, ties up nicely with our fib zone and monthly key level too, 1.21 is a whole number too. Multiple confluences stacked here.
BITSTAMP:ETHUSD Had a successful break from the channel,as you can see the Elliot Corrective wave breaking out. Facing small resistance now and retracing back from Fibonacci 50/61% zone, closely watching this. I would suggest to secure positions now and do not FOMO in. Buy only on pullbacks so I secured positions on 370s. If things go south, and there is clear...
SHORT GBP/AUD, ***IF, there is a clear rejection around the current level, wich is on a key level and on the 61,80% level of the fibonacci. The market reached this fibonacci level and seems to be rejecting it. IMPORTANT : I am only showing an analysis on one of the many timeframes that I use.
The Banks and Institutions have placed Four Sell Orders in the past as we can see in the chart. There is a Strong Confluence of Resistance in the 0.8960 - 0.8975 area. Are the Banks preparing to place another Sell Order?? Price has been in a Descending Channel since 27th July. There is a Strong Confluence of Resistance around 0.8960. This is the Sweet...
As a Trader. I try to find the areas and key levels where the Institutions and the Big Players are planning their trades. It is not an easy job. I use Supply and Demand, Trend Analysis and Confluence to try to find those areas. If you can find those areas, you can make huge profits because you are on the right side of the Market. I posted the USD/JPY Analysis...
USDCAD Analysis I will be looking for a breakout here and then with a retest we can have another great sell oportunity 📉 Till then we must wait for that confirmations. ⏳
EUR/USD has made an incredible run over the last two months. It is extremely rare to see such an increase in the forex markets. However, all things must come to an end. Trading forex, the trend has always been much more important than any other market. And here we can observe resistance to our uptrend. There is a confluence of three important things that I will...